Tax code

A code issued by HM Revenue & Customs which is used to calculate the amount of tax an individual should be paying each year. The tax code is found on a P45, which is handed out when an employee leaves their job or on the PAYE coding notice, which is sent out at the start of each tax year. Each tax code is made up of a letter and several numbers, for example 747L. Taxpayers can find out how much income they can earn in a year before paying tax by multiplying the number in their tax code by 10. The letter indicates which category the taxpayer falls into, for example P is for people aged 65 to 74 and eligible for the full personal allowance.

Also on Yahoo

Quotes are real-time for NASDAQ, NYSE, and NYSEAmex when available. See also delay times for other exchanges. Quotes and other information supplied by independent providers identified on the Yahoo! Finance partner page. Quotes are updated automatically, but will be turned off after 25 minutes of inactivity. Quotes are delayed at least 15 minutes. All information provided "as is" for informational purposes only, not intended for trading purposes or advice. Neither Yahoo! nor any of independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. By accessing the Yahoo! site, you agree not to redistribute the information found therein.